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Toyota Latest to Test Myanmar Car Market
Toyota Motor Corp. has joined at least three other carmakers who are testing the potential for new-car sales in Myanmar, The Nikkei reports.
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Toyota Motor Corp. has joined at least three other carmakers who are testing the potential for new-car sales in Myanmar, The Nikkei reports.
The country currently has only about 400,000 registered passenger vehicles, according to the newspaper. But many observers predict Myanmar's fast-growing economy will trigger a boom in new-car sales.
Toyota plans to display several of its models in Yangon in March and take orders for several of its car and SUV models, according to The Nikkei.
Carmakers have been supplying repair parts to the Myanmar market for years. Their interest in the country as a new-car market began in 2011, when the government eased import restrictions and launched other economic reforms.
Ford signed a deal a year ago with a local distributor to sell vehicles in the country. The Nikkei reported in December that Mitsubishi and Mazda plan to launch sales there sometime this year.
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